What is an RRIF?

Individuals use a Registered Retirement Income Fund (RRIF) to generate income from the savings accumulated under their RRSP. As with the RRSP, an RRIF account is registered with the Canada Revenue Agency. An RRSP is required to be converted to a retirement income option such as a RRIF by December 31 of the year in which you turn 71. However, you do have the option to convert your RRSP to a RRIF at anytime before then.


Tax–sheltered growth: Your investments will continue to grow tax–sheltered, so it keeps working for you
Control your income: You can manage the amount and the frequency of your withdrawals, subject to the legislated minimum annual payment


  • Tax–free transfer to spouse: You can pass your RRIF assets on to your spouse tax–free when you die
Flexible Investment options:
  • You have the option of converting to a more secure guaranteed income at any time


  • Transfers in from other institutions and pension rollovers easily arranged
  • Variable rate deposits or fixed rate terms up to 5 years available
  • Automatic RRSP deposit transfers at varying frequencies at no fee
  • Minimum term deposits of $500 (RRSP) and $5,000 (RRIF)
  • Competitive Rates
Duration Rate
12 Months 2.55%
24 Months 2.65%
36 Months 2.85%
48 Months3.10%
60 Months 3.20%
Special Rates
15 Month2.80%
55 Months3.50%
Registered Savings 
RRSP/RRIF Variable1.25%
TFSA Variable 1.75%



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Vanguard Credit Union is a full-service financial institution with branches in Binscarth, Birtle, Brandon, Hamiota, Kenton, Miniota, Oak Lake, Oak River, Rossburn, Russell, and St. Lazare.

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